Y-Combinator, an early investor in the Indian startup ecosystem, has picked 28 startups from India for its winter batch, which is more than double its previous 12, reported Mint, citing two closed sources.
As per the sources, among the startups selected for this year’s batch are Squats Fitness– which provides health, fitness and corporate wellness services, Urban Kisaan– seeking to make and sell fresh produce, NearPe– which collects cash for orders on behalf of online firms, and AuthLayer– which provides software to banks for identity verification.
While, other Indian startups in the batch also include Deepsource– which helps detect bugs and security issues in code, BotAroma– which is developing a technology tool to help celebrities and publishers interact with their audience and Chutney– building a social shopping app, said the people cited above.
“Early stage investors are still aggressive because they are still seeing interesting opportunities. Even if some companies may face challenges to scale later on, the inherent promise is there. Which is why every early stage VC in India is either raising, or has recently raised a large fund,” said Gagan Goyal, partner at India Quotient, an early stage investor.
Y-Combinator is typically a 2-3 month program where founders get to interact with industry experts, other founders and investors, all the while building their business.